There’s a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Mogo Finance Technology Inc (MOGO) and Ellington Financial (EFC) with bullish sentiments.
Mogo Finance Technology Inc (MOGO)
In a report released today, Scott Buck from B.Riley FBR maintained a Buy rating on Mogo Finance Technology Inc. The company’s shares opened today at $2.90.
Buck noted:
“After the market close, Mogo Finance Technology, Inc. (MOGO-Buy, $7 PT) reported 4Q18 adj. EBITDA of C$2.1M, which compares favorably to B Riley FBR and Consensus of ~C$600K. While operating results were meaningfully ahead of expectations, we believe investor attention is more focused on new account additions and account monetization. The company added 45,000 accounts during the fourth quarter and 212,000 accounts for full year 2018 suggesting elevated demand levels persisted through year-end. We expect this level of member growth to continue through 2019 as product enhancements and new product additions attract new members to the platform. We believe investors are likely to view these membership updates, as well as comments on the product pipeline, as more valuable than near-term operating results.”
According to TipRanks.com, Buck is ranked #4452 out of 5236 analysts.
The the analyst consensus on Mogo Finance Technology Inc is currently a Moderate Buy rating.
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Ellington Financial (EFC)
In a report released yesterday, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on Ellington Financial, with a price target of $18. The company’s shares opened today at $17.46, close to its 52-week high of $17.64.
Hayes said:
“We reiterate our Buy rating and $18 price target on shares of Ellington Financial Inc. (EFC) following the declaration of a $0.14/share monthly dividend. The monthly dividend equates to a $1.68/share annual dividend, implying a 2.4% increase from the FY18 annual dividend. We believe switching from a quarterly dividend to a monthly dividend should attract new investors, especially retail investors who prefer a greater frequency of distribution. With that said, we continue to view the inclusion of EFC shares into indices, such as the Russell 2000 and/or the S&P 600, as a stronger catalyst that could only be a few months away and encourage much greater institutional investment in the stock.”
According to TipRanks.com, Hayes is a 4-star analyst with an average return of 7.8% and a 78.3% success rate. Hayes covers the Financial sector, focusing on stocks such as Saratoga Investment Corp, Starwood Property Trust, and Capital Southwest Corp.
Currently, the analyst consensus on Ellington Financial is a Strong Buy with an average price target of $18.75.
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